Nova (NVMI) ROCE % : 29.18% (As of Dec. 2023)

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What is Nova ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Nova's annualized ROCE % for the quarter that ended in Dec. 2023 was 29.18%.

Nova ROCE % Historical Data

The historical data trend for Nova's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Nova ROCE % Chart

Nova Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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12.35

12.09

20.41

23.36

18.78

Nova Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															22.43	16.42	14.21	18.36	29.18

Nova ROCE % Calculation

Nova's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	155.983	/	( ( (984.105 - 134.068)	+	(1133.807 - 322.811) )	/ 2 )
	=	155.983	/	( (850.037	+	810.996)	/ 2 )
	=	155.983	/	830.5165
	=	18.78 %

Nova's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	229.528	/	( ( (1084.159 - 322.184)	+	(1133.807 - 322.811) )	/ 2 )
	=	229.528	/	( ( 761.975	+	810.996 )	/ 2 )
	=	229.528	/	786.4855
	=	29.18 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Nova (NAS:NVMI) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Nova ROCE % Related Terms

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Nova (NVMI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Nova Ltd (NAS:NVMI) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

NVMI:Israel NMR:Germany

Address

5 David Fikes Street, Rehovot, ISR, 7632805

Website

https://www.novami.com

Nova Ltd is a semiconductor equipment manufacturer. The company provides metrology solutions for process control used in semiconductor manufacturing. The company offers in-line optical and x-ray stand-alone metrology systems, as well as integrated optical metrology systems. The product range consists of Nova 2040, Nova 3090Next, Nova i500 and i500 Plus, Nova T500, Nova T600, Nova V2600, HelioSense 100, Nova Hybrid Metrology solution, NovaMars. The company generates majority of its revenue from Taiwan, R.O.C. Geographically the company has its business spread across the region of Taiwan, Korea, China, the United States, and Europe.

Executives

Marxe Austin W & Greenhouse David M

10 percent owner

C/O SPECIAL SITUATIONS FUNDS, 527 MADISON AVENUE, SUITE 2600, NEW YORK NY 10022